How Much Does ‘Walkability’ Affect Home Prices?

4 August 2016, 6:26 am

Recently, The Wall Street Journal featured a great article on ‘walkability’. Stroll-friendly communities may be the latest housing draw, but in the luxury market, the “walkability premium” is relatively small. Redfin, a Seattle-based real-estate brokerage, measured the effect of walkability on home values by looking at increases in Walk Score, a 0-to-100 scale that tallies things such as population density and nearby restaurants, schools and stores. A score above 90 is considered a “walker’s paradise” where almost all errands can be done on foot.